Hitek Retained Earnings vs Non Current Assets Total Analysis

HKIT Stock

1.67 0.10 5.65%

Hitek Global financial indicator trend analysis is much more than just examining Hitek Global Ordinary latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Hitek Global Ordinary is a good investment. Please check the relationship between Hitek Global Retained Earnings and its Non Current Assets Total accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hitek Global Ordinary. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Retained Earnings vs Non Current Assets Total

Retained Earnings vs Non Current Assets Total Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Hitek Global Ordinary Retained Earnings account and Non Current Assets Total. At this time, the significance of the direction appears to have very strong relationship.

The correlation between Hitek Global's Retained Earnings and Non Current Assets Total is 0.89. Overlapping area represents the amount of variation of Retained Earnings that can explain the historical movement of Non Current Assets Total in the same time period over historical financial statements of Hitek Global Ordinary, assuming nothing else is changed. The correlation between historical values of Hitek Global's Retained Earnings and Non Current Assets Total is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Retained Earnings of Hitek Global Ordinary are associated (or correlated) with its Non Current Assets Total. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Non Current Assets Total has no effect on the direction of Retained Earnings i.e., Hitek Global's Retained Earnings and Non Current Assets Total go up and down completely randomly.

Correlation Coefficient

0.89

Relationship Direction	Positive
Relationship Strength	Strong

View All Relationships

Retained Earnings

The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.

Non Current Assets Total

The total value of a company's long-term assets, which are not expected to be converted into cash or used up within one year or the operating cycle, including property, plant, and equipment, and intangible assets.

Most indicators from Hitek Global's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Hitek Global Ordinary current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hitek Global Ordinary. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

At this time, Hitek Global's Issuance Of Capital Stock is comparatively stable compared to the past year. Sales General And Administrative To Revenue is likely to gain to 0.42 in 2024, whereas Tax Provision is likely to drop slightly above 490.7 K in 2024.

	2021	2022	2023	2024 (projected)
Interest Expense	205.2K	241.8K	313.9K	329.6K
Depreciation And Amortization	259.2K	51.1K	53.8K	51.1K

Interest Expense Depreciation And Amortization

Hitek Global fundamental ratios Correlations

	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Net Tangible Assets	Property Plant And Equipment Net	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Short Term Investments	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Net Invested Capital	Total Current Assets	Net Working Capital	Common Stock	Property Plant Equipment
Total Assets		0.95	0.82	0.87	0.91	0.0	-0.72	-0.65	0.92	0.59	0.77	0.88	0.82	0.94	-0.6	0.86	0.77	0.63	-0.7	0.73	0.94	0.87	0.98	0.82	0.84	-0.22
Other Current Liab	0.95		0.94	0.83	0.96	-0.03	-0.59	-0.48	0.98	0.68	0.66	0.92	0.75	0.94	-0.72	0.82	0.75	0.6	-0.63	0.61	0.98	0.84	0.88	0.75	0.66	-0.2
Total Current Liabilities	0.82	0.94		0.7	0.84	-0.24	-0.39	-0.26	0.88	0.85	0.52	0.83	0.62	0.83	-0.85	0.71	0.77	0.55	-0.47	0.47	0.96	0.73	0.73	0.62	0.49	-0.36
Total Stockholder Equity	0.87	0.83	0.7		0.77	0.04	-0.92	-0.85	0.81	0.46	0.96	0.95	0.98	0.83	-0.7	0.99	0.88	0.54	-0.84	0.93	0.78	1.0	0.85	0.99	0.86	-0.25
Net Tangible Assets	0.91	0.96	0.84	0.77		0.05	-0.55	-0.46	0.99	0.57	0.58	0.84	0.67	0.92	-0.53	0.76	0.58	0.55	-0.53	0.5	0.89	0.77	0.85	0.69	0.57	-0.1
Property Plant And Equipment Net	0.0	-0.03	-0.24	0.04	0.05		-0.17	-0.06	0.06	-0.67	0.0	0.12	-0.02	0.04	0.21	-0.05	-0.29	-0.27	-0.44	0.03	-0.13	0.02	-0.1	-0.04	0.03	0.95
Current Deferred Revenue	-0.72	-0.59	-0.39	-0.92	-0.55	-0.17		0.97	-0.58	-0.16	-0.98	-0.79	-0.95	-0.66	0.46	-0.9	-0.75	-0.43	0.85	-0.97	-0.54	-0.91	-0.76	-0.95	-0.91	0.14
Net Debt	-0.65	-0.48	-0.26	-0.85	-0.46	-0.06	0.97		-0.47	-0.14	-0.95	-0.66	-0.91	-0.54	0.32	-0.85	-0.68	-0.37	0.72	-0.93	-0.43	-0.83	-0.73	-0.91	-0.89	0.24
Retained Earnings	0.92	0.98	0.88	0.81	0.99	0.06	-0.58	-0.47		0.58	0.62	0.89	0.71	0.93	-0.61	0.79	0.64	0.56	-0.59	0.55	0.91	0.81	0.84	0.73	0.59	-0.11
Accounts Payable	0.59	0.68	0.85	0.46	0.57	-0.67	-0.16	-0.14	0.58		0.36	0.52	0.44	0.52	-0.73	0.53	0.69	0.42	-0.08	0.3	0.76	0.49	0.57	0.44	0.33	-0.73
Cash	0.77	0.66	0.52	0.96	0.58	0.0	-0.98	-0.95	0.62	0.36		0.84	0.99	0.69	-0.61	0.95	0.87	0.48	-0.82	0.99	0.64	0.95	0.8	0.98	0.92	-0.31
Non Current Assets Total	0.88	0.92	0.83	0.95	0.84	0.12	-0.79	-0.66	0.89	0.52	0.84		0.89	0.88	-0.81	0.92	0.86	0.53	-0.84	0.81	0.89	0.96	0.81	0.88	0.75	-0.12
Cash And Short Term Investments	0.82	0.75	0.62	0.98	0.67	-0.02	-0.95	-0.91	0.71	0.44	0.99	0.89		0.74	-0.66	0.99	0.89	0.52	-0.81	0.97	0.71	0.98	0.84	1.0	0.89	-0.32
Net Receivables	0.94	0.94	0.83	0.83	0.92	0.04	-0.66	-0.54	0.93	0.52	0.69	0.88	0.74		-0.61	0.78	0.73	0.66	-0.68	0.65	0.92	0.84	0.89	0.77	0.72	-0.16
Common Stock Shares Outstanding	-0.6	-0.72	-0.85	-0.7	-0.53	0.21	0.46	0.32	-0.61	-0.73	-0.61	-0.81	-0.66	-0.61		-0.71	-0.88	-0.43	0.6	-0.61	-0.78	-0.74	-0.5	-0.64	-0.48	0.38
Short Term Investments	0.86	0.82	0.71	0.99	0.76	-0.05	-0.9	-0.85	0.79	0.53	0.95	0.92	0.99	0.78	-0.71		0.89	0.55	-0.78	0.92	0.78	0.98	0.86	0.98	0.85	-0.33
Non Current Liabilities Total	0.77	0.75	0.77	0.88	0.58	-0.29	-0.75	-0.68	0.64	0.69	0.87	0.86	0.89	0.73	-0.88	0.89		0.59	-0.71	0.87	0.81	0.9	0.76	0.88	0.8	-0.54
Inventory	0.63	0.6	0.55	0.54	0.55	-0.27	-0.43	-0.37	0.56	0.42	0.48	0.53	0.52	0.66	-0.43	0.55	0.59		-0.46	0.47	0.62	0.55	0.64	0.54	0.55	-0.4
Other Current Assets	-0.7	-0.63	-0.47	-0.84	-0.53	-0.44	0.85	0.72	-0.59	-0.08	-0.82	-0.84	-0.81	-0.68	0.6	-0.78	-0.71	-0.46		-0.85	-0.61	-0.84	-0.63	-0.79	-0.8	-0.16
Other Stockholder Equity	0.73	0.61	0.47	0.93	0.5	0.03	-0.97	-0.93	0.55	0.3	0.99	0.81	0.97	0.65	-0.61	0.92	0.87	0.47	-0.85		0.6	0.93	0.76	0.96	0.92	-0.28
Total Liab	0.94	0.98	0.96	0.78	0.89	-0.13	-0.54	-0.43	0.91	0.76	0.64	0.89	0.71	0.92	-0.78	0.78	0.81	0.62	-0.61	0.6		0.81	0.87	0.71	0.68	-0.29
Net Invested Capital	0.87	0.84	0.73	1.0	0.77	0.02	-0.91	-0.83	0.81	0.49	0.95	0.96	0.98	0.84	-0.74	0.98	0.9	0.55	-0.84	0.93	0.81		0.85	0.98	0.86	-0.26
Total Current Assets	0.98	0.88	0.73	0.85	0.85	-0.1	-0.76	-0.73	0.84	0.57	0.8	0.81	0.84	0.89	-0.5	0.86	0.76	0.64	-0.63	0.76	0.87	0.85		0.84	0.88	-0.33
Net Working Capital	0.82	0.75	0.62	0.99	0.69	-0.04	-0.95	-0.91	0.73	0.44	0.98	0.88	1.0	0.77	-0.64	0.98	0.88	0.54	-0.79	0.96	0.71	0.98	0.84		0.88	-0.34
Common Stock	0.84	0.66	0.49	0.86	0.57	0.03	-0.91	-0.89	0.59	0.33	0.92	0.75	0.89	0.72	-0.48	0.85	0.8	0.55	-0.8	0.92	0.68	0.86	0.88	0.88		-0.26
Property Plant Equipment	-0.22	-0.2	-0.36	-0.25	-0.1	0.95	0.14	0.24	-0.11	-0.73	-0.31	-0.12	-0.32	-0.16	0.38	-0.33	-0.54	-0.4	-0.16	-0.28	-0.29	-0.26	-0.33	-0.34	-0.26

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Hitek Global Account Relationship Matchups

Hitek Global fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	11.5M	14.4M	17.1M	21.2M	36.2M	18.4M
Other Current Liab	1.0M	1.2M	1.5M	2.0M	2.2M	1.5M
Total Current Liabilities	2.0M	2.4M	2.8M	4.2M	3.4M	2.9M
Total Stockholder Equity	9.0M	11.2M	13.1M	13.5M	28.3M	29.8M
Net Tangible Assets	7.0M	9.0M	11.2M	13.1M	15.1M	10.0M
Property Plant And Equipment Net	847.9K	504.2K	156.8K	129.6K	406.6K	404.4K
Current Deferred Revenue	763.2K	752.3K	784.5K	977.1K	171.4K	162.8K
Net Debt	(776.2K)	(1.9M)	(2.1M)	1.5M	(6.7M)	(6.4M)
Retained Earnings	5.7M	7.4M	9.0M	10.3M	11.4M	7.8M
Accounts Payable	185.2K	379.4K	518.7K	696.7K	532.1K	458.7K
Cash	776.2K	1.9M	2.1M	1.2M	9.3M	9.8M
Non Current Assets Total	3.5M	3.6M	4.2M	9.1M	11.4M	12.0M
Cash And Short Term Investments	2.7M	4.7M	7.3M	5.5M	18.1M	19.1M
Net Receivables	3.8M	3.9M	3.1M	4.8M	6.1M	4.0M
Short Term Investments	2.0M	2.8M	5.2M	4.3M	8.8M	9.3M
Liabilities And Stockholders Equity	11.5M	14.4M	17.1M	21.2M	36.2M	18.4M
Non Current Liabilities Total	563.7K	857.4K	1.2M	3.5M	4.5M	4.7M
Inventory	513.1K	119.8K	409.0K	430.7K	557.7K	374.0K
Other Current Assets	1.0M	2.1M	2.2M	1.4M	24.8K	23.5K
Total Liab	2.5M	3.2M	4.0M	7.7M	7.9M	4.6M
Net Invested Capital	9.0M	11.2M	13.1M	16.2M	30.9M	32.5M
Total Current Assets	8.0M	10.8M	13.0M	12.1M	24.8M	12.8M
Accumulated Other Comprehensive Income	588.6K	1.2M	1.5M	557.0K	226.8K	215.5K
Net Working Capital	6.1M	8.4M	10.2M	7.9M	21.4M	22.5M
Property Plant Equipment	1.2M	847.9K	504.2K	156.8K	141.1K	134.0K
Non Currrent Assets Other	2.6M	3.1M	4.0M	7.7M	410.5K	390.0K

Pair Trading with Hitek Global

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Hitek Global position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Hitek Global will appreciate offsetting losses from the drop in the long position's value.

Moving together with Hitek Stock

0.75

C3 Ai Inc

Pair Corr

Moving against Hitek Stock

0.62	QH	Quhuo	Pair Corr
0.52	DOCU	DocuSign	Pair Corr
0.51	BL	Blackline	Pair Corr
0.5	U	Unity Software Aggressive Push	Pair Corr
0.45	ZI	ZoomInfo Technologies	Pair Corr

The ability to find closely correlated positions to Hitek Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hitek Global when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Hitek Global - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Hitek Global Ordinary to buy it.

The correlation of Hitek Global is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hitek Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hitek Global Ordinary moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Hitek Global can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for Hitek Stock Analysis

When running Hitek Global's price analysis, check to measure Hitek Global's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Hitek Global is operating at the current time. Most of Hitek Global's value examination focuses on studying past and present price action to predict the probability of Hitek Global's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hitek Global's price. Additionally, you may evaluate how the addition of Hitek Global to your portfolios can decrease your overall portfolio volatility.

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